The government has set a target to achieve defence manufacturing worth three lakh crore rupees and defence exports worth 50 thousand crore rupees by the year 2029. Defence Minister Rajnath Singh said this while addressing a Conference on Opportunities in Defence Manufacturing in New Delhi today. Mr Singh highlighted that the country’s defence production has increased to a record of more than one lakh 50 thousand crore rupees, which was only 46 thousand crore rupees in 2014. He said the defence exports have also crossed 24 thousand crore rupees.
The Minister said, the country’s self-reliance in the defence sector has progressed beyond just policies and announcements, reaching a stage of action, impact, and widespread acknowledgement. He said the government has undertaken several policy initiatives under the Atmanirbhar Bharat to promote the indigenous design, development, and manufacturing of defence equipment in the country in the last ten years. Mr Singh said that the government is fully conscious of the changing dynamics of modern warfare, as battles are becoming technology-driven.
Mr Singh stressed on the need to achieve a high degree of self-reliance in critical defence capabilities as the nation is moving forward with the goal of Viksit Bharat by 2047.
